Apaylo Boosts Interac Send Transaction Limit to $25,000 for Merchants

In a game-changing move for Canadian businesses, Apaylo is thrilled to announce that we’ve increased the maximum transaction size for Interac e-Transfer send transactions from $10,000 to $25,000 for all Apaylo merchants. This enhancement, powered by Interac’s robust payment infrastructure, underscores our commitment to providing flexible, secure, and efficient payment solutions that meet the evolving needs of modern businesses.

Let’s dive into what this means for you, when to leverage Interac transactions, and key considerations for maximizing benefits while staying compliant.

Why Interac e-Transfer? When to Use It

Interac e-Transfer is a cornerstone of Canada’s payment ecosystem, recognized by the Bank of Canada as a “prominent payment system” for its reliability and widespread adoption. Apaylo’s enhanced Interac send transactions allow merchants to send up to $25,000 CDN per transaction directly to clients’ bank accounts in near real-time, making it ideal for:

• Rapid Vendor Payments: Settle invoices or pay suppliers quickly without the delays of traditional EFTs or wires.
• Client Disbursements: Perfect for businesses like remittance services or subscription-based platforms needing to send funds to clients efficiently.
• High-Value Transactions: The new $25,000 limit supports larger B2B and B2C payments, reducing reliance on slower payment methods for significant amounts.

With PayNow, Apaylo’s revolutionary feature leveraging Interac’s account number routing, merchants can send funds directly to bank accounts, bypassing email-based delays and enhancing control over transactions.

This makes Interac e-Transfer a go-to for businesses prioritizing speed and transparency.

Benefits of the $25,000 Transaction Limit

This increase unlocks significant advantages for Apaylo merchants:

• Greater Flexibility: Handle larger payments without splitting transactions, streamlining workflows and reducing administrative overhead.
• Near Real-Time Settlement: Funds settle within 24 hours, improving cash flow and enabling faster financial operations.
• Enhanced Security: Interac’s robust fraud mitigation, combined with Apaylo’s KYC/KYB/KYT protocols, ensures secure transactions.
• Cost Efficiency: Higher limits minimize the need for costly wire transfers or cheques, saving time and fees.
• Seamless Integration: Process transactions via Apaylo’s Merchant Portal or API, supporting automated, high-volume workflows for businesses of all sizes.

Risks and Compliance Considerations

While the increased limit offers exciting opportunities, merchants must remain vigilant to ensure compliance and mitigate risks:

• Fraud Prevention: Use unique, frequently changed passwords for EMTs and enable auto-deposit to prevent interception by malicious actors. PayNow’s direct account routing further reduces fraud risks by eliminating email-based vulnerabilities.
• Avoid Suspicious Patterns: Refrain from sending multiple payments of equal amounts to the same recipient in a short period, as this could trigger anti-money laundering (AML) flags or suggest attempts to bypass reporting limits.
• Regulatory Compliance: Adhere to the Retail Payment Activities Act (RPAA) and Interac’s guidelines. Apaylo’s platform includes transaction monitoring to detect unusual activity, ensuring alignment with Canada’s strict financial standards, all Merchants should do their own transaction monitoring to ensure compliance.
• Due Diligence: Verify recipient details and maintain proper authorization for debits to avoid disputes or chargebacks.

By following these best practices, merchants can leverage the $25,000 limit confidently while maintaining a secure and compliant financial ecosystem.

Why Apaylo?

At Apaylo, we’re not just about transactions: we’re about empowering businesses to thrive. The increased Interac send limit is part of our mission to deliver cutting-edge payment solutions that prioritize speed, security, and trust. Whether you’re a small business streamlining vendor payments or an MSB managing high-volume disbursements, Apaylo’s Interac e-Transfer service, integrated with our Payments Wallet and API, offers unmatched flexibility and efficiency.

Get Started Today

Ready to supercharge your payment processes with Apaylo’s enhanced Interac e-Transfer?

New merchants, reach out to sales@apaylo.com to explore tailored solutions. Existing merchants, contact customerservice@apaylo.com for a demo of the $25,000 limit and PayNow integration. Visit our Quick Reference Guide for more.

Here’s to faster, bigger, and more secure payments with Apaylo!